After spending the terminal few days battling to hold prices above the $9,000 resistance, Bitcoin (BTC) toll made a strong motility past surging to $9,380 on Wednesday morning. The 3.65% move took place on a high book surge merely the cost speedily pulled back to $9,126 before moving higher to $9,395 at the time of writing.

With just 4 days and 16 hours left before the Bitcoin halving, investors will be closely watching to come across if the top ranked crypto-asset on CoinMarketCap tin push above the $9,500 resistance to accomplish $x,000.

Crypto market place daily price chart. Source: Coin360

Bullish traders will await for Bitcoin to secure some other close above $9,000 to lend support to the idea that the former resistance level has transformed to a support and the next footstep is to confirm that $9,200 too serves every bit back up.

BTC USDT daily chart. Source: TradingView

While the motion to $9,395 is a positive footstep forrad, the price remains below the long term descending trendline resistance at $nine,400. A break above the $9,400 level would position Bitcoin price for a run at $nine,600 and some analysts have called for a rally to $10,000.

Although the halving is fast budgeted and retail investors are feeling increasingly bullish, one must think that since crashing to $3,750 on March 13, Bitcoin cost has increased by more than 145% and the current fix upwards on the daily fourth dimension frame is beginning to await toppy.

Furthermore, taking a birds-middle view of the daily or weekly chart, i will notice that $9,500 is a crucial level of resistance and support. Overcoming this level is expected to be a claiming merely given Bitcoin's proximity to the price, a high book surge could knock it out.

BTC USDT daily chart. Source: TradingView

Assuming the cost doesn't immediately turn down at this level, both $x,000 and the $10,300-$10,500 are levels Bitcoin has non been able to overcome since September 2022.

Given that the current run is looking overextended, traders will probable be looking to brusk right at each of these crucial resistance levels.

CME Bitcoin Futures COT Summary. Source: CME Group.com

Terminal Friday's CME Bitcoin Futures Commitment of Traders (COT) report also shows that institutional investors have increased their brusk positions.

As mentioned in previous analysis, Bitcoin is known to rally college in situations where investor sentiment is strongly bullish, meaning the current overbought RSI, weak buy volume and generally overextended rally can all be irrelevant if FOMO is destined to boot in.

But FOMO bated, a rejection at $nine,400-$9,500 should upshot in the price pulling back to the $8,825-$8,550 where at that place is a loftier book VPVR node. Beneath the $8,550 support traders will await for entries around $8,400 and $vii,800.

BTC USDT 4-hour nautical chart. Source: TradingView

Currently the shorter term charts testify Bitcoin price attempting to push to a higher place $ix,400 and if the toll is rejected hither the digital nugget should offset detect support at $9,200, although a retest of $ix,000 to ostend this level as support is expected.

In the upshot that both levels fail, a driblet to $eight,800 is not catastrophic every bit the 20-MA and a well tested back up aligned with a high volume VPVR node are both at $8,850.

For the brusk term, traders should keep an eye on trading volume and a suspension higher up the daily high at $9,395.

The views and opinions expressed hither are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You lot should conduct your ain inquiry when making a decision.